Find the Amount of Each Regular Payment to Provide $12,500

question 172

Multiple Choice

Find the amount of each regular payment to provide $12,500 in 15 years, at an annual rate r = 6%, compounded quarterly.

• A)$203.92
• B)$143.62
• C)$137.17
• D)$129.92
• E)$141.97

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Definitions:

Workers' Compensation

An insurance program that provides benefits to employees who suffer job-related injuries or illnesses.

Mandatory Laws

Regulations that are legally required to be followed, often implying penalties for non-compliance.

Louisiana

A state in the southern region of the United States, known for its diverse culture, Mardi Gras festival, and as the birthplace of jazz.

Verified

Pertains to being confirmed as true, accurate, or authentic by evidence or authority.